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Taylor Biomass Energy to receive $100m DoE loan

US-based Taylor Biomass Energy is to receive a $104 million (€81 million) loan guarantee from the US Department of Energy (DoE) that will go towards the construction of its biomass plant in Montgomery, New York.

The large-scale facility, which will employ 400 workers during the construction phase in addition to 80 full time positions, will produce bioelectricity from municipal solid waste (MSW).

US Senator Charles Schumer said: ‘After years of work we are at the one yard line with this project.’ He continued: ‘This investment isn’t just good news for Taylor Biomass and the people they will employ, but good news for the entire Hudson Valley economy.’

And Congressman Maurice Hinchey commented: ‘I’m delighted that the Taylor Biomass Energy proposal is now poised to become reality now that the [Department of Energy] has given it the green light and is undergoing a final review process – a stage which only a handful of projects across the nation have reached in applying for critical federal loan guarantees.’